Dutch Bros Inc. (BROS) stock
BROSNYSERetail-Eating & Drinking PlacesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 13/302% above fair value
$35.90+2.19 (+6.50%)
Close on Nov 13, 2026Market cap $6.27BP/E 46.0Yield –
Dutch Bros gross margin
Gross margin is gross profit as a percentage of revenue.
Dutch Bros's gross margin for the twelve months ending Sep 30, 2026 was 24.8%. For fiscal 2025 it was 25.9%, against 26.6% the year before. The highest annual figure on record is 40.3% in fiscal 2019.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 25.9% | −0.7 |
| FY2024 | Dec 31, 2024 | 26.6% | +0.5 |
| FY2023 | Dec 31, 2023 | 26.0% | +1.5 |
| FY2022 | Dec 31, 2022 | 24.5% | −6.3 |
| FY2021 | Dec 31, 2021 | 30.8% | −4.6 |
| FY2020 | Dec 31, 2020 | 35.4% | −4.9 |
| FY2019 | Dec 31, 2019 | 40.3% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 24.0% | −1.2 |
| Q2 FY2026 | Jun 30, 2026 | 27.4% | −1.4 |
| Q1 FY2026 | Mar 31, 2026 | 23.1% | −2.2 |
| Q4 FY2025 | Dec 31, 2025 | 24.1% | −1.5 |
| Q3 FY2025 | Sep 30, 2025 | 25.2% | −1.4 |
| Q2 FY2025 | Jun 30, 2025 | 28.9% | +1.1 |
| Q1 FY2025 | Mar 31, 2025 | 25.3% | −0.8 |
| Q4 FY2024 | Dec 31, 2024 | 25.7% | +2.4 |
| Q3 FY2024 | Sep 30, 2024 | 26.6% | −1.8 |
| Q2 FY2024 | Jun 30, 2024 | 27.8% | −0.7 |
| Q1 FY2024 | Mar 31, 2024 | 26.1% | +2.9 |
| Q4 FY2023 | Dec 31, 2023 | 23.3% | −3.7 |
| Q3 FY2023 | Sep 30, 2023 | 28.4% | +3.0 |
| Q2 FY2023 | Jun 30, 2023 | 28.5% | +4.4 |
| Q1 FY2023 | Mar 31, 2023 | 23.2% | +2.8 |
| Q4 FY2022 | Dec 31, 2022 | 26.9% | +2.5 |
| Q3 FY2022 | Sep 30, 2022 | 25.5% | −4.6 |
| Q2 FY2022 | Jun 30, 2022 | 24.1% | −12.8 |
| Q1 FY2022 | Mar 31, 2022 | 20.4% | −12.3 |
| Q4 FY2021 | Dec 31, 2021 | 24.5% | −4.3 |
| Q3 FY2021 | Sep 30, 2021 | 30.1% | −9.4 |
| Q2 FY2021 | Jun 30, 2021 | 36.9% | – |
| Q1 FY2021 | Mar 31, 2021 | 32.7% | – |
| Q4 FY2020 | Dec 31, 2020 | 28.8% | – |
| Q3 FY2020 | Sep 30, 2020 | 39.4% | – |
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